Cypress Capital Group Sells 949 Shares of Snap-on Incorporated (NYSE:SNA)

Cypress Capital Group trimmed its position in Snap-on Incorporated (NYSE:SNA) by 17.3% during the fourth quarter, Holdings Channel reports. The firm owned 4,552 shares of the company’s stock after selling 949 shares during the quarter. Cypress Capital Group’s holdings in Snap-on were worth $1,545,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. UMB Bank n.a. grew its stake in Snap-on by 70.5% in the 4th quarter. UMB Bank n.a. now owns 75 shares of the company’s stock valued at $25,000 after buying an additional 31 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in Snap-on in the 4th quarter valued at about $26,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Snap-on in the 4th quarter valued at about $28,000. Brooklyn Investment Group acquired a new position in Snap-on in the 3rd quarter valued at about $39,000. Finally, Private Trust Co. NA grew its stake in Snap-on by 38.2% in the 3rd quarter. Private Trust Co. NA now owns 217 shares of the company’s stock valued at $63,000 after buying an additional 60 shares during the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Snap-on Stock Performance

Shares of NYSE:SNA opened at $329.53 on Wednesday. The company’s 50 day moving average price is $343.03 and its two-hundred day moving average price is $326.70. Snap-on Incorporated has a 12-month low of $252.98 and a 12-month high of $373.89. The firm has a market cap of $17.26 billion, a PE ratio of 16.90, a PEG ratio of 2.21 and a beta of 0.99. The company has a quick ratio of 3.17, a current ratio of 4.15 and a debt-to-equity ratio of 0.22.

Snap-on (NYSE:SNA) last announced its earnings results on Thursday, February 6th. The company reported $4.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.78 by $0.04. Snap-on had a net margin of 21.71% and a return on equity of 19.20%. During the same quarter last year, the firm posted $4.75 EPS. Equities research analysts predict that Snap-on Incorporated will post 19.79 earnings per share for the current year.

Snap-on Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 24th will be given a dividend of $2.14 per share. The ex-dividend date of this dividend is Monday, February 24th. This represents a $8.56 annualized dividend and a dividend yield of 2.60%. Snap-on’s dividend payout ratio is 43.90%.

Analyst Ratings Changes

A number of brokerages recently commented on SNA. Barrington Research reiterated an “outperform” rating and issued a $350.00 price target on shares of Snap-on in a research note on Monday, February 10th. Tigress Financial upped their price target on shares of Snap-on from $385.00 to $390.00 and gave the company a “buy” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Snap-on currently has an average rating of “Hold” and a consensus target price of $346.40.

Insider Buying and Selling

In related news, CFO Aldo John Pagliari sold 6,909 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $347.62, for a total transaction of $2,401,706.58. Following the sale, the chief financial officer now owns 100,668 shares in the company, valued at approximately $34,994,210.16. This trade represents a 6.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Nicholas T. Pinchuk sold 21,783 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $354.83, for a total transaction of $7,729,261.89. Following the sale, the chief executive officer now owns 769,738 shares in the company, valued at $273,126,134.54. This represents a 2.75 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 42,003 shares of company stock worth $14,636,064. Corporate insiders own 4.10% of the company’s stock.

About Snap-on

Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. It operates through Commercial & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.